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Thread: Is crypto currency the future?

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    Quote Originally Posted by goat View Post
    Bitcoin is expected to drop 60%.
    BitCoin can easily rise by 1000% and then drop by 90%. I have seen both, and I would not be surprised if I see both again. If the Dollar goes to zero, I would expect BitCoins to go to near infinite Dollars, for two obvious reasons. First, the world needs some currency. Second, if the Dollar is zero, it takes a near infinite Dollars to buy even a little thing.

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    Quote Originally Posted by Walt View Post
    BitCoin can easily rise by 1000% and then drop by 90%. I have seen both, and I would not be surprised if I see both again. If the Dollar goes to zero, I would expect BitCoins to go to near infinite Dollars, for two obvious reasons. First, the world needs some currency. Second, if the Dollar is zero, it takes a near infinite Dollars to buy even a little thing.
    Bitcoin has pretty much stayed at a $50,000 average from this time last year. It's becoming the hardest currency since gold coins.

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    Quote Originally Posted by goat View Post
    Bitcoin has pretty much stayed at a $50,000 average from this time last year. It's becoming the hardest currency since gold coins.
    About two years ago, it jumped from $10k to $50k. About six months ago, it dropped from $50k to $30k. About three months ago, it jumped back up to $50k.

    Gold prices also can be highly unstable.

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    Quote Originally Posted by Walt View Post
    About two years ago, it jumped from $10k to $50k. About six months ago, it dropped from $50k to $30k. About three months ago, it jumped back up to $50k.

    Gold prices also can be highly unstable.
    Buy the next dip at around $20,000. You can thank me later.

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    Quote Originally Posted by goat View Post
    Buy the next dip at around $20,000. You can thank me later.
    I avoid BitCoin these days. The irrational fluctuations prevent me from enjoying life. I just decided one day to completely divest, and not to care how high it went afterwards, and I am much happier.

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    Quote Originally Posted by Walt View Post
    I avoid BitCoin these days. The irrational fluctuations prevent me from enjoying life. I just decided one day to completely divest, and not to care how high it went afterwards, and I am much happier.
    There are risks in everything. When the dollar is worthless in 2030, the odds favor Bitcoin reaching $120k.

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    Quote Originally Posted by goat View Post
    There are risks in everything. When the dollar is worthless in 2030, the odds favor Bitcoin reaching $120k.
    If the Dollar is worthless, then $120k would also be worthless.

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    Quote Originally Posted by Walt View Post
    If the Dollar is worthless, then $120k would also be worthless.
    Bitcoin is closer to gold than it is the dollar. When the dollar is worthless, gold and Bitcoin automatically go up in value.

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    Quote Originally Posted by goat View Post
    Bitcoin is closer to gold than it is the dollar. When the dollar is worthless, gold and Bitcoin automatically go up in value.
    Basing a huge economy on the ups and downs of a tiny part of the economy, gold, seems crazy to me. Think about it, a large gold mine is found, we have high inflation. A large gold mine runs out of gold, we have high deflation. It is all not connected to the economy at large.

    Nor can it react to the economy at large. Demand for currency to hold causes deflation, which in turn causes more demand for currency to hold. It becomes an endless loop of despair. It is probably what caused the Great Depression, and might be what caused the Dark Ages.

    Not to mention gold will lose much of its value sooner or later. When the Earth was molten, all the gold fell to the inside of the Earth. It is impossible to get that gold now. Then when the Earth surface became solid, some more gold was delivered by astroids. There is much more gold in the solar system than you would think by looking at the surface of the Earth. Sooner or later, we will start mining astroids, and have huge amounts of gold.

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    Quote Originally Posted by Walt View Post
    Basing a huge economy on the ups and downs of a tiny part of the economy, gold, seems crazy to me. Think about it, a large gold mine is found, we have high inflation. A large gold mine runs out of gold, we have high deflation. It is all not connected to the economy at large.

    Nor can it react to the economy at large. Demand for currency to hold causes deflation, which in turn causes more demand for currency to hold. It becomes an endless loop of despair. It is probably what caused the Great Depression, and might be what caused the Dark Ages.

    Not to mention gold will lose much of its value sooner or later. When the Earth was molten, all the gold fell to the inside of the Earth. It is impossible to get that gold now. Then when the Earth surface became solid, some more gold was delivered by astroids. There is much more gold in the solar system than you would think by looking at the surface of the Earth. Sooner or later, we will start mining astroids, and have huge amounts of gold.
    My belief system is based on systemic breakdown -- social, economic, and political. I see Bitcoin as a way to survive, while others see value in ammo. Ammo will be worth its weight in gold as a currency. Everything will be decentralized, no more federal reserve and no more beltway laws. Imperial capitalism is dead.

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    I enjoy our conversation, and am not trying to be negative. I find you interesting, and hope you are not taking my debating as a personal attack.

    Quote Originally Posted by goat View Post
    Ammo will be worth its weight in gold as a currency.
    For that to be true, there would have to be no more manufacturing base. If they can be manufactured still, then ammo is worth their weight in lead, gunpowder, primer, and steel. Ammo is one of the easier thing to manufacture, so it would have to be a total social collapse to no longer be able to make it. That collapse would have to be global. For instance, Libya or Syria have little left in manufacturing, but still are importing ammo.

    If we have lost all ability to manufacture ammo on the Earth... How would we keep computers, electricity, and the internet running? Without those, Bitcoins stop working. Making a bullet is much easier than making a computer chip.

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    Quote Originally Posted by Walt View Post
    I enjoy our conversation, and am not trying to be negative. I find you interesting, and hope you are not taking my debating as a personal attack.



    For that to be true, there would have to be no more manufacturing base. If they can be manufactured still, then ammo is worth their weight in lead, gunpowder, primer, and steel. Ammo is one of the easier thing to manufacture, so it would have to be a total social collapse to no longer be able to make it. That collapse would have to be global. For instance, Libya or Syria have little left in manufacturing, but still are importing ammo.

    If we have lost all ability to manufacture ammo on the Earth... How would we keep computers, electricity, and the internet running? Without those, Bitcoins stop working. Making a bullet is much easier than making a computer chip.
    Bartering will be a way to survive a systemic breakdown. I can't imagine society allowing the net being down for very long. The telegraph was an important part of the civil war so workers were quick to get a cut line fixed. States and counties will have to step up on infrastructure because everyone in the beltway will be headed to their winter house on a tropical island.

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    Quote Originally Posted by goat View Post
    Bartering will be a way to survive a systemic breakdown. I can't imagine society allowing the net being down for very long. The telegraph was an important part of the civil war so workers were quick to get a cut line fixed. States and counties will have to step up on infrastructure because everyone in the beltway will be headed to their winter house on a tropical island.
    What the point of an international network, if we are in a situation where we only need to communicate with our immediate neighbors?

    People are very quick to reestablish some form of money. After WWII, Germans used cigarettes as money, but did not care how old those cigarettes were. It was just that the were rare that mattered.

    Very few people living within the beltway have winter houses in the tropics.

    If ammo is valuable, and can be traded, it becomes the highest priority to manufacture. That will drive down its price.

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    Quote Originally Posted by goat View Post
    There are risks in everything. When the dollar is worthless in 2030, the odds favor Bitcoin reaching $120k.
    So what?

    If the government outlaws them...like many other countries have to varying extents.
    There will be nowhere but the black market that you will be able to use them.

    https://www.euronews.com/next/2022/0...ed-or-illegal2

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    Quote Originally Posted by Walt View Post
    What the point of an international network, if we are in a situation where we only need to communicate with our immediate neighbors?

    People are very quick to reestablish some form of money. After WWII, Germans used cigarettes as money, but did not care how old those cigarettes were. It was just that the were rare that mattered.

    Very few people living within the beltway have winter houses in the tropics.

    If ammo is valuable, and can be traded, it becomes the highest priority to manufacture. That will drive down its price.
    Empire doesn't easily give up power. There will be world war after default. Technology gave us autonomous drones and robots that kill indiscriminately so human troops will be limited but nukes will be prevalent. Crypto is the perfect currency to get us through to the other side of chaos. Reset is welcome and needed, history tells us so.

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